Oragenics Inc (OGEN)

[ospreyeye]

$OGEN Chart - BEARISH HARAMI reversal pattern formed today - EMA 4 @ 1.61 is the 1st support level to hold - EMA 8 @ 1.54 is the 2nd - as long as middle Bollinger Band @ 1.52 support holds the up trend should continue - candles forming below the middle BB = downside risk -

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2202

Definition

This pattern consists of a white body and a small black body that is completely inside the range of the white body. If an outline is drawn for the pattern, it looks like a pregnant woman. This is not a coincidence. “Harami” is an old Japanese word for “pregnant”. The white candlestick is “the mother” and the small candlestick is “the baby”.

Recognition Criteria

1. The market is characterized by a prevailing uptrend.
2. A white body is observed on the first day.
3. The black body that is formed on the second day is completely engulfed by the body of the first day.